Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits.

The
Democrats, worried about higher gas prices, want to set up a board that
would apply a "windfall profit tax" as high as 100 percent on the sale
of oil and gas, according to their legislation. The bill provides no
specific guidance for how the board would determine what constitutes a
reasonable profit.

The Gas Price Spike Act, H.R. 3784,
would apply a windfall tax on the sale of oil and gas that ranges from
50 percent to 100 percent on all surplus earnings exceeding "a
reasonable profit." It would set up a Reasonable Profits Board made up
of three presidential nominees that will serve three-year terms. Unlike
other bills setting up advisory boards, the Reasonable Profits Board
would not be made up of any nominees from Congress.